Will we have
balanced budget legislation in Canada devoid of analysis of where the economy is operating relative to the cycle?
The evidence in other countries (U.K. and the EURO) is that
balanced budget legislation has not worked.
Because, as Mike Moffatt pointed out, it makes this a statutory recession, thanks to
balanced budget legislation.
The same will be true for
balanced budget legislation.
If Mr. Flaherty had done his research, he would have found that attempts to implement
balanced budget legislation have in the large majority of cases failed miserably.
One could reasonably expect that the Government will spell out in more detail its «
balanced budget legislation», referred to in the Speech from the Throne
Or for that matter why did the Government make a commitment to introduce
balanced budget legislation when the deficit is disappearing faster than expected?
If he does his research, he will find that attempts to implement
balanced budget legislation have in most cases failed miserably.
The experience with
balanced budget legislation in the provinces and other countries has not been impressive.
And this is where
the balanced budget legislation (BBL) comes important.
In proposing
balanced budget legislation, the Harper Government has indicated that the debt - to - GDP ratio will continue to decline below its target of 25 per cent of GDP.
The bottom line is that if the political will is there,
balanced budget legislation is not required.
The federal government is committed to
balanced budget legislation.
Harper's commitment to table
balanced budget legislation, probably before the election, shows how little he understands public finance.
Based on the past eight years and current rhetoric the answers for the Conservative government would appear to be: minimal; zero or lower; and,
balanced budget legislation.
Perhaps we will see what they mean when they finally come out with the specifics of their «
Balanced Budget Legislation», which they announced in their 2011 election campaign.
In Mr. Cross» defense, he does not appear to be a fan of
balanced budget legislation in the first place.
Last year, when asked about
balanced budget legislation he told the House of Commons Standing Committee on Finance «I don't think writing something into law, and then expecting that future governments will be held by that, is realistic.»
Neither the IMF nor the OECD or anyone else is recommending that Canada adopt
balance budget legislation.
Not exact matches
The
legislation, called PROMESA, would create a federal oversight board to help Puerto Rico governments
balance their
budgets, improve financial reporting and facilitate debt restructuring when voluntary agreements between creditors and borrowers can not be reached.
OTTAWA — Mandatory
balanced -
budget legislation, interprovincial booze runs, public sector bashing and lifetime prison terms are among a grab bag of populist Conservative promises in a mid-mandate policy makeover.
Another beneficiary of the Tea Party wave, Mulvaney serves on the
Budget Committee, and earned conservative cred as a co-author of the Republican «Cut, Cap and
Balance»
legislation.
Our Government will introduce
balanced -
budget legislation.
The Update incorporates the October average private sector economic forecasts and an increased «adjustment for risk» for 2011 - 12 to 2013 - 14, as well as an increase in employment insurance rates of only 5 cents (employee rate) for 2012, rather than the 10 cents set in
legislation As a result, the
balanced budget target is delayed from 2014 - 15 to 2016 - 17, prior to the inclusion of the Targeted Strategic and Operating Review Savings (now called «Deficit Reduction Action Plan Saving Target»).
This view was expressed in Bill C - 59, the recently passed
Budget Omnibus Bill, which included
legislation that would require future government's to maintain
balanced budgets.
Why they would now introduce
balanced -
budget legislation, given their past failure to achieve one, is a mystery.
First, the Government announced that it would introduce
balanced -
budget legislation.
That is, will the
legislation require that surpluses be realized during normal economic times to offset the run up in federal debt during the economic crisis or that only
balanced budgets are required?
The
legislation would require
balanced budgets during «normal» economic times and concrete timelines for returning to
balance in the event of an economic crisis.
Mr. Flaherty's November fiscal Update made no mention of
balanced -
budget legislation.
Balanced -
budget legislation would serve these purposes.
No
balanced -
budget legislation has ever existed for the federal government.
This analysis is the bedrock to
balanced -
budget - type
legislation in Europe.
We would recommend that
legislation be included in the 2016
Budget, repealing the
Balanced Budget Act.
«While Senate Democrats were prepared to take action to bring New York's
budget into
balance, the Governor failed to submit
legislation in time for thoughtful consideration and review — delivering a final bill two hours after the start of the extraordinary session he called two weeks ago.»
The Senate on Aug. 3 approved the last
budget bill — the so - called «revenue»
legislation — that calls for more than $ 1 billion in new tax and fee hikes and several hundred million dollars of other revenue «actions» to help
balance the $ 136 billion fiscal plan.
EJ McMahon says Cuomo «is ending the year on a strong pro-taxpayer note, vetoing union - backed
legislation that would have blocked the Nassau County Interim Finance Authority (NIFA) from imposing pay freezes to
balance the county
budget.»
Skelos then allegedly pushed through
legislation favorable to PRI including a measure in the 2015
budget that prevented the state Department of Financial Services from liquidating medical malpractice insurers with a negative
balance through 2019.
«Once again, the Governor's proposed
legislation to
balance the
budget lies on the third floor of the State capitol, refused by the Legislature.»
In addition to passing a
balanced, on - time
budget, enacting the Property Tax Cap, the Marriage Equality Act and the Public Integrity Reform Act, Commissioner McDonald underscored passage of the NYSUNY 2020
legislation as a significant reform critical to rebuilding the state economy.
«Having to
balance a
budget at the City Council level, helping to get
legislation passed in the Council, all put me in a unique position to do a good job in Albany.»
It provided a wide - ranging,
balanced analysis of the constitutional issues facing the state, a focused action program in such key areas as education,
budgeting and home rule, and the basis for proposed
legislation to modify the revision process itself.
Gipson's
legislation intends to assist county and local governments in their efforts to
balance their
budgets and reduce the cost of living for taxpayers.
The Tories» pre-budget media blitz has been peppered with a number of such low - cost pledges, such as
legislation to enshrine
balanced budgets and tighter rules for charitable status to curb the link between charities, terrorists and organized crime.
I can think of a number of pieces of B.C
legislation that came into force on April 1st: for example the
Balanced Budget and Ministerial Accountability Act, S.B.C. 2001, c. 28 (April 1, 2002), the Coastal Ferry Act, S.B.C. 2003, c. 14 (April 1, 2003) and the Museum Act, S.B.C. 2003, c. 12 (April 1, 2003).